Marriott International, operator of The Ritz-Carlton and JW Marriott brands, has US$3.5bn worth of real estate currently under construction in the Middle East and Africa, its president and CEO told Arabian Business.
The US-based hotelier, which operates 3,800 properties in over 74 countries, is in talks with several investors to open new hotels in Saudi Arabia and will continue to grow its presence in the UAE, said Arne Sorenson.
“We have 42 [properties] open and 49 signed and in the pipeline for the Middle East and Africa. When we look across the region we see Dubai, the kingdom [of Saudi Arabia], the rest of the emirates and probably Nigeria as being the most significant growth markets,” he said.
Marriott, which currently operates seven hotels in Saudi Arabia including The Ritz-Carlton, Riyadh, expects to open a “few dozen” in the kingdom as the number of religious tourists continues to grow.
Read more: http://www.arabianbusiness.com/marriott-ceo-says-3-5bn-of-mideast-africa-hotels-in-pipeline-491134.html
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